Politicians... (quick rant)
Either they're not from here or they're millionaires from here. Otherwise there's no way a rational person could argue that making $250,000 in Southern California makes one "rich." The fact Congressional Democrats continue to focus on millionaires when they talk about extending tax cuts only proves how utterly dependent they are on class warfare as a tool to remain in power. Oh, and now they admit that the Bush tax cuts were across the board cuts... for years they've been referring to them exclusively as tax cuts for the wealthiest Americans. It's only a boon for the middle class when extending them happens under a Democrat administration? Puh-lease...
Nobody making under $250,000 a year is going to get more money as a result of letting that range of the Bush tax cuts expire. The difference is that the people who make that or more will pay more taxes. The only entity that benefits from that: government. The same federal government who sets up a Debt Reduction Commission after spending $787B in a mis-managed and misguided stimulus package that completely failed to stimulate the economy or keep unemployment from rising above 8% (not that it could have, but that was part of the sales pitch). Think that Debt Commission is looking critically at Obamacare? Probably not.
Capital gains tax is also on the table. Nothing helps a sluggish economic recovery like discouraging investment, right? Sure, let's knock that up to 20% in 2011 so that we pull forward all the Q1 economic activity into Q4 2010 so that January and February numbers look like crap. Brilliant!
And Democrats wonder why they score poorly in polls when it comes to their ability to fix the economy...
/rant
Nobody making under $250,000 a year is going to get more money as a result of letting that range of the Bush tax cuts expire. The difference is that the people who make that or more will pay more taxes. The only entity that benefits from that: government. The same federal government who sets up a Debt Reduction Commission after spending $787B in a mis-managed and misguided stimulus package that completely failed to stimulate the economy or keep unemployment from rising above 8% (not that it could have, but that was part of the sales pitch). Think that Debt Commission is looking critically at Obamacare? Probably not.
Capital gains tax is also on the table. Nothing helps a sluggish economic recovery like discouraging investment, right? Sure, let's knock that up to 20% in 2011 so that we pull forward all the Q1 economic activity into Q4 2010 so that January and February numbers look like crap. Brilliant!
And Democrats wonder why they score poorly in polls when it comes to their ability to fix the economy...
/rant